Shares of Pandora Media Inc (NYSE:P) have jumped up 8.4% in after-hours trading late Friday, and are slated to open Monday trading up significantly over Friday’s closing price. This, however, comes after the stock took a monumental hit in trading on Friday. The stock is down over 62% from its 52-week high and on Friday set a new 52-week low.
It will be interesting to see how the stock performs today, and see if it can hold its after-hours gains or if investors will continue beating it down. The stock decreased 10.07% or $0.96 on February 5, hitting $8.57. Approximately shares traded hands. P shares have declined 43.51% since July 2, 2015 and are currently downtrending. It has underperformed the S&P500 by 36.21%.
From a total of 25 analysts covering Pandora Media (NYSE:P) stock, 11 rate it a “Buy”, 0 a “Sell”, and 14 a “Hold”. This means that 44% of the ratings are positive. The highest target price is $30 while the lowest target price is $10.0. The mean of all analyst targets is $19.76 which is 130.57% above today’s ($8.57) stock price. Pandora Media was the topic of 48 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Needham maintained shares on January 29 with a “Buy” rating. FBR Capital upgraded shares to a”Mkt Perform” rating and a $16 target share price in their report from a December 17. Susquehanna initiated P stock in a recent report from January 18 with a “Neutral” rating. SunTrust maintained the rating on August 15. SunTrust has a “Buy” rating and a $25 price target on shares. Finally, Suntrust Robinson downgraded the stock to a “Neutral” rating in a report they issued on a January 4.
The institutional sentiment increased to 1.27 in Q2 2015. It’s up 0.22, from 1.05 in 2015Q2. The ratio is positive, as 38 funds sold all their Pandora Media Inc shares they owned while 65 reduced their positions. 47 funds bought stakes while 84 increased their total positions. Institutions now own 184.97 million shares which is 10.76% less than the previous share count of 207.27 million in 2015Q2.
Crosslink Capital Inc holds 18.34% of its total portfolio in Pandora Media Inc, equating to 6.16 million shares. Falcon Edge Capital Lp owns 4.67 million shares representing 6.9% of their total US portfolio. Moreover, Light Street Capital Management Llc has 5.9% of their total portfolio invested in the company, equating to 1.85 million shares. The New York-based Ao Asset Management Llc has a total of 4.89% of their portfolio invested in the stock. Omt Capital Management Llc, a California-based fund reported 173,600 shares owned.
Since February 26, 2015, the stock had 0 insider buys, and 2 sales for a total of $280,250 in net activity. Fleming-Wood Simon sold 8,871 shares worth $169,873. Sze David L sold 30,000 shares worth $569,796. Feuille James sold 67,841 shares worth $1.24M. Trimble John sold 50,000 shares worth $938,430. The insider Westergren Timothy sold 160,000 shares worth $2.99 million.
Pandora Media, Inc. is a United States well-known provider of Internet radio in the United States. The company has a market cap of $1.64 billion. The Firm offers a personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones, tablets, computers and car audio systems, as well as a range of other Internet-connected devices. It currently has negative earnings. It allows local and national advertisers to deliver targeted messages to its listeners using a combination of audio, display and video advertisements.